[COMP] my monitor died- what is degaussing?

Hello, my best monitor, a used one, has 2 led lights near the on/off button. 
There is a green one and a yellow one- when it worked well the green one was 
lit, now the green one flickers and the yellow one comes on. Video no longer 
comes on- there is no heat coming off the cooling grate anymore, My cat used 
to stay up there cause it was warm.
Is there anything I can do? What is degaussing?
I did a search with web ferret and only came up with degaussing to remove 
sensitive data from hard drives...degaussing apparently demagnatizes disks? 
How does that relate to monitors?
Any help would be appreciated:)

David Bruce Jr
icq# 37423206
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